Browsing: Mergers and acquisitions

Community Banking

TowneBank in Suffolk, Virginia, has agreed to buy Farmers Bankshares in Windsor, Virginia. The $16.9 billion-asset TowneBank said in a press release Thursday that it will pay $56 million in stock for the $609 million-asset Farmers.


In a detailed comment letter to the FDIC on Friday, the American Bankers Association called for updates to the agency’s 25-year-old guidelines regarding bank merger transactions, acknowledging the significant changes that the financial services industry has undergone since they were originally put in place.


The FDIC issued a request for information today seeking public input on bank merger transactions, including mergers between an insured depository institution and a noninsured institution.

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